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LONDON, GREATER LONDON, UNITED KINGDOM, March 31, 2025 /EINPresswire.com/ -- The chip scale package CSP LED market size has experienced remarkable growth in recent years and is expected to continue this ascent over the next decade. The market was valued at $1.85 billion in 2024 and is predicted to grow to $2.21 billion in 2025, reflecting a compound annual growth rate CAGR of 19.2%. This exceptional growth can be attributed to factors such as the increasing adoption of miniaturized LED components, rising demand for high-power density lighting solutions, expanding use of CSP LEDs in automotive lighting, favourable government incentives for energy-efficient lighting, and growing penetration of CSP LEDs in consumer electronics.
Is the CSP LED Market Set to Witness Substantial Growth?
As we look to the future, this growth trend is expected to persist, and the market size is projected to expand to $4.39 billion by 2029 at a CAGR of 18.8%. This surge in growth can be linked to factors such as the rising demand for smart lighting solutions, the increasing integration of CSP LEDs in microLED displays, expanded use in UV and IR applications, larger deployment in horticulture lighting, and increasing demand for ultra-thin lighting solutions. Another crucial factor that will influence growth in this sector is the global demand for energy efficiency projects.
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What Factors Are Propelling the CSP LED Market?
The increasing global demand for energy efficiency projects is a significant driver for the growth of the CSP LED market. Energy efficiency projects are initiatives designed to reduce energy consumption while maintaining or enhancing the level of output, performance, or comfort. Consequently, the demand has been rising due to growing environmental concerns, mounting energy costs, and the need for sustainable building practices. CSP LEDs can greatly contribute to these projects by providing high luminous efficacy with minimal power consumption. Their compact design improves thermal management, thereby reducing energy loss and extending lifespan—attributes that result in lower maintenance costs. For example, in September 2022, a report published by Energy UK projected that the number of energy efficiency projects would grow from 150,000 installs annually in 2021 to 1 million per year by 2030 to support the government’s decarbonization goals.
Who are the Key Industry Players Contributing to the Market Growth?
Major companies operating in the CSP LED market include Samsung Electronics Co. Ltd., Toshiba Corporation, Sharp Corporation, LG Innotek Co. Ltd., Lite-On Technology Corporation, Rohm Semiconductor, Shenzhen MTC Co. Ltd., Lumileds Holding B.V., and many others. These industry leaders continue to drive market growth through their offering of innovative solutions and products.
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What are the Emerging Trends in the Market Developing of Innovative Products?
Several key industry players are championing innovative product developments, such as soft light Chip-scale LEDs. These LEDs, which enable thinner, lighter, and low-glare lighting fixtures, are compact light sources with integrated components that emit diffused illumination. This results in reduced sharp shadows and creates a gentle lighting effect. Nichia Corporation, for instance, launched the NFSWL11A-D6 chip-scale LED in January 2024, which achieves a horizontal light distribution, thereby creating a uniform and softer illumination, perfect for spaces requiring comfortable, ambient lighting.
How Is The CSP LED Market Segmented?
1. By Type: Low And Mid-Power, High-Power
2. By Application: Automotive Lighting, Backlighting Values BLU, Flash Lighting, General Lighting, Other Applications
3. By End-User: Residential, Commercial, Industrial
For Low and Mid-Power, the subsegments are General Lighting, Automotive Lighting, Display Backlighting, Indicator And Signage, while for High-Power, the subsegments include General Lighting, Automotive Lighting, Industrial Lighting, and Outdoor Lighting.
What Is The Regional Analysis Of CSP LED Market?
In 2024, the Asia-Pacific region was the largest contributor to the global CSP LED market. Asia-Pacific is also expected to be the fastest-growing region in the forecast period. The CSP LED market report also covers Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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